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| Representative of SBV (right) present the "Excellent
Performance" Award to General Director of Prudential Finance. — VNS
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HCM CITY (Biz Hub) — The State Bank of Viet Nam (SBV) has given the 2015 "Excellent Performance" Award to Prudential Vietnam Finance Company Ltd (Prudential Finance) for its business achievements in the country.
Prudential Finance has become the first consumer finance company in Viet Nam to win the award for two consecutive years in 2014 and 2015 with the central bank also citing achievements like risk management, personnel development and use of advanced technologies.
Sanjay Chakrabarty, CEO of Prudential Finance, said the consumer finance market has experienced robust growth in recent years thanks to great efforts made by companies to meet every modest demand of customers.
"However, it is most important for finance companies to adopt good risk management practices during market expansion to help ensure the safety of the whole financial and banking system in Viet Nam.
"At Prudential Finance, we put risk management in credit notarisation at top priority and strictly comply with Vietnamese regulations on structure and level of risk management."
Last year the company received more than 780,000 loan applications, and approved and disbursed nearly half.
In July it launched a mortgage product together with incentives. — VNS